China YuHua Education to repurchase HK$614 million 0.9% convertibles

By Wendy Van Sickle

Columbus, Ohio, Oct. 25 – China YuHua Education Corp. Ltd. agreed to repurchase HK$614 million, or 29.4%, of its HK$2,088,000,000 0.9% convertible bonds due 2024, according to a press release.

The repurchased bonds will be canceled, leaving HK$1,474,000,000 principal amount of the convertibles outstanding.

The company announced on Oct. 17 that it will be looking at well-timed repurchases of the convertibles, when the market price is at an appropriate level. The company said it would pay the prevailing market price to repurchase the bonds.

China YuHua is a Zhengzhou, China-based provider of private education services.

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